Late payment - how can you avoid it?A guidance booklet, a user's guide to late payment legislation pdf document 389kb can be downloaded here. It means that small businesses have a statutory right to claim interest from other small businesses on debts incurred under future contracts.

Can i charge individuals statutory late payment interest?Business environment and consumer affairs branch. Our dedicated ir35 section for small businesses and it contractors.

Click here for 'a user's guide to the amended late payment legislation effective from 7 august 2002. Penalties for late payment of corporation tax. London's high- tech businesses top euro venture capital league. In credit control half of businesses need guidance on calculating late payment interest.

You will increase your debt if you are late in paying a monthly instalment. The annual late payment interest rate for the current period is 12. 5. Send to friend companies 'contributing to their late- payment woes.